Posted on 08/15/2016 8:46:16 AM PDT by Olog-hai
As Germans live longer and lower birth rates mean fewer workers are available to replace retirees, the Bundesbank says people will need to work longer in order to meet pension demands.
The German Federal Bank (Bundesbank) said in its monthly report on Monday that by 2060 Germany should increase the retirement age to 69 from the current 65.
The retirement age is already set to reach 67 by 2030, but the Bundesbank said that even with the current favorable financial situation and this increase, “further adjustments are inevitable”.
“At the same time, a longer working life will not be taboo,” said the report. …
(Excerpt) Read more at thelocal.de ...
Typical. Government spending money that it was not supposed to spend....or wants to spend...so now the people must work longer. Lots of governments having serious accountability problems...
Need more mules to pull the cart
Their Ponzi Scheme doesn’t work any better than ours....................
Not to worry, all of those refugees that Germany just imported will become productive workers and support Germany’s retirees.
Haven't people figured out yet what a scam Socialist Security is?
99% of the money taken in by the SS goes to administering the SS!
Open your eyes, people! You're being duped!
This is a downward spiral to oblivion frankly. Diminishing productive workforce, increasing foreign born ‘citizenry’ sucking the life’s blood from the entitlement system, and a bevy of old working Europeans they can’t afford to let retire.
It’s a real conundrum. They can’t kill them off because they need them to finance that crazy government’s insane pandering to world diversity. So - they delay the problem 4 years, hoping that many will die before they start receiving benefits while at least some actuarially significant group prolongs this immigrant folly.
Utter fools. They will wallow in their sorrow at the end.
If people are going to routinely live to be 80-90 years old, this makes sense. In fact, 69 might not be old enough.
So you can either work longer (the German Central Bank solution) or you can live shorter (the Obamacare solution). I prefer the former over the latter.
But I thought bringing in a million “refugees” was going to solve all that! They were going to go right to work and pay taxes and build up the country that is declining due to the null birthrate of the Germans.
They are proposing this solely with funding pensions in mind. And even worse, it’s a central bank dictating socio-economic policy.
And their leaders will retire in luxury, while telling themselves that their countrymen weren't worthy of the vision they had for them.
They know what they’re doing. Create a crisis and impose a solution, and the worse it gets, the more draconian the solutions get.
Can they just bring in more Neanderthals? That strategy worked so well in the past...
If they won't increase the numerator, they'll simply have to decrease the denominator.
The million refugees will be glad to help with that.
And said refugees have already expressed their will to do so. With the media covering for them by saying that their motives are unclear or that they are converts to “right wing” ideology, ad nauseam.
The bank isn’t dictating policy. The bank is telling people what the numbers mean.
A 67-year-old German has a life expectancy of about 84. So his pension will have to support him for 17 years. There is just not enough money in the pot.
However, if he works until 70, there is more money in the pot, and his pension only has to support him for 14 years. This is an easier problem to solve.
Of course, people should just make their own intelligent decisions about these things. But that ship sailed a long time ago.
Social Security going bankrupt in Germany or even the United States.Thats alright,let’s just import more impoverished people into our country.That will solve the problem.
Not.
These government guys make me glad that I believe in a burning hell
Heh
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